But where the instrument is in the hands of a holder in due course, a valid delivery thereof by all parties prior to him so as to make them liable to him is conclusively presumed. The Pacific Reporter - Page 441925Full view
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North Dakota. Supreme Court, Hiram A. Libby, Robert Milligan Carothers, Robert Dimon Hoskins, Edgar Whittlesey Camp, John McDowell Cochrane, Ames Francis Wilbur, Joseph Coghlan, Edwin James Taylor - Court rules - 1922
...indorsing, as the case may be; and in such case the delivery may be shown to have been conditional, or for a special purpose only, and not. for the purpose of transferring the property in the ii<strument. But when the instrument is in the hands of the holder in due course, a valid delivery...